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, doug. >> i want to point outgoing over the debt ceiling doesn't cut spending. the fact that the treasury doesn't have the money doesn't relief them of the obligation to spend it. it is the law of the land to spend the money. melissa: hang on, guys. hang on. we have to talk one at a time. what it actually says i'm not going to extend you anymore credit until you get your books in order. why should i give you more credit to spend when you haven't figured out how you're going to live within your means? why is that wrong, doug? >> that's right. in fact the fact that the you know, your teenager overspent their credit card doesn't mean you don't pay the bill. melissa: you say i will not raise the limit to get your act together. >> my point if you want to cut spending pass laws to cut spending. hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid
that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in that it is not technically illegal. [ laughter ] let me explain with someone else's mouth. >> technically it does appear to be legal. here is how. >> the u.s. government can print new money but there's a limit to how much paper money can be until circulation at any one time. there are rules that limit the denom
of using the debt ceiling and possibly the sequester, these automatic budget cuts that will start taking effect in march, to really force big spending cuts and if obama doesn't agree potentially it will cause him substantial economic damage. >> rose: austan, i've talked to people who are wonderful negotiators and they always say to me "you've got to give the other guy something, it's never, never i win-you lose." did the president make a mistake by not at least giving republicans some spending cuts that they would have been able to take home? >> i don't know if i totally agree with that in this circumstance in that they -- the democrats moved on what level the higher tax rates were going to apply to. it strikes me that we've got a weird negotiation which is -- let's call it a multiyear negotiation where i think we all hand in our heads two years ago last year and even coming into now that there would be some negotiated grand bargain with some revenues and some cuts. and instead it seems like the way it's playing out is the original debt ceiling fight, we got a bunch of cuts with no reven
the way it's playing out is the original debt ceiling fight, we got a bunch of cuts with no revenue. now, in this one we got a bunch of revenue with no cuts. now we'll come into the third round. after a year and a half of negotiating we may have a grand bare gain, it's just not a grand bargain that they actually struck all at once at the same able to. >> rose: so where do they move to now. the debt ceiling extension is, what, a month or so off. david, help me on this. is that what they have to address first or is this something else that must be addressed before you get to the debt ceiling extension question? >> the debt ceiling is likely to come first. the funny thing is at this point to some extent there aren't any external deadlines they absolutely have to meet. these are all created by washington. historically the debt ceiling was not an occasion for a big policy change. it became one in 2011, the republicans successfully made that happen. but they could easily extend the debt kreiling the way washington has in the past. in some ways the bigger thing is the sequester. it was supposed
trillion in new revenue as we near the debt ceiling. the prospect of sequester cuts obviously facing us. the export -- expiration of funding. joining us now, republican strategist and a former political director, former fox news contributor. good to have you here. he says there is not a problem with israel or his record on iran. he is a good fellow ready to do a good job. >> i was struck by the president's language in nominating him, saying that he represents bipartisanship. of course, what the president means is he is a republican agrees with me. the problem is, he has no support among republicans, and i think a lot of democrats will be troubled by some of the things as the said. he is going to have to put up the good fight for himself to when this. lou: are you surprised. the newly elected senator from the grace to the texas who is sort of out there even ahead of the other senator from texas, john corning, just running away with this nomination. >> he is a very effective guy. he beat the establishment candidate in texas. a tremendous campaigner and will be there for a long time in tex
term, or run up against a debt ceiling in and get a credit rating but not cut spending. in the and you have to pass bills that reform the entitlement programs. there is no substitute. lou: when i said just let it unfold, what i meant was sequestration, do as you well. i personally think the republicans signed up for an idiotic sequestration. they allowed the federal -- the defense budget to take up 50% instead of the 20% that it represents and the federal budget so it has a disproportionate burden on already. that was completely in ignoramus who came up without one. the second pt of the steel, they go around preaching about where or to have to do, this, that, cut. just let it go. just let it go and see what happens. because americans don't really get it. all the republicans look like a bunch of stodgy orthodox camino, members of an orthodoxy here st simply cannot resist saying no. if that's your idea, mr. president, it's your deal. let it rip. >> well, i men, if it were not for the consequences of letting this administration and the autopilot that we are on for spending representative,
cuts in exchange for raising the debt ceiling. now some republicans are saying, how about we just ask for a budget? the congressional budget act of 1974 requires that congress pass a budget every year by april 15th. harry reid last allowed a budget to be passed in the senate in april of 2009. as you ed said earlier that is 1350 days ago. the reason is clear. the budget that was passed passed by a big democratic majority had highly elevated levels have spending. by not passing a new budget they of made the spending the new baseline. they really don't want to change that. they haven't passed one. they funded the government by passing a series of continuing resolutions since then. >> neil: are they breaking the law? >> they are. the law does require congress to do this. i have to say, after i published this article in the washington examiner. i got tons of e-mails, gee, if it's the law and harry reid is breaking it can't they do something about it? the law was written and it's a requirement and it has no enforcement provision. it has no teeth in it. harry reid is violating the law, but t
. so these massive spending cuts will coincide with another debt ceiling battle. is there anything in this debacle that we can all agree on? >> house speaker john boehner had kind of a rough week here. the at a party folks not happy with the deal that he struck >> the president was able to get the speaker to undo everything he had promised he would do >> where are you? mr. speaker, we need leadership. >> tonight i am ashamed, shame on you, mr. speaker. >> jon: republican or democrat, senator or congressman, team edward or team jacob, everyone agrees john boehner sucks. at least we can be assured that as the incoming congress votes for a new speaker of the house, it's clear what the outcome is going to be. >> john boehner won re-election as house speaker today. >> jon: oh, boy. (train whistle blowing) >> jon: welcome back to the show. listen. as you may recall, a couple months ago america was hit by two major disasters. one of them natural, hurricane sandy and one of them somewhat man made the republican majority in the house of representatives. the second of those disasters has mad
. that should be -- that's been banked. that's done, that was in return for the debt ceiling increase that we gave this president 17 months ago $2 trillion that he blew through in no time. i agree with you completely. that's why that sequester has to stay in place and we now have to have a discussion about how we achieve the savings if the president wants any further increase in the debt limit. i would suggest the way to do it is reforming one or more of the big entitlement programs. that's where we're going to really get on a sustainable path. but you're absolutely right, we can't count the existing sequester, which was put in place because of the last debt ceiling increase. we can't count that twice. >> sounds great. senator pat toomey, thank you very much for walking through that. we appreciate it. >>> now, joining us to get some reaction to senator toomey's views, we bring in chris lehain and tony fratto, former bush deputy press secretary. chris, let me just start with you. because this sounds like a technical point, but it's not. the debt ceiling increase we're talking about came suppos
and congress of bickering of the debt ceiling. how much do we cut security of a tweak of medicare. >> i do not have a crystal ball if i did not have a small island and have my own basketball team people under 4 ft. tall. >> we do not know what will happen the next days. >> we will check back with rob for winners and losers on wall street at 9:15 a.m.. >> right now is 6:48 a.m. and we are watching the weather. let us take a live look on van ness ave from our roof camera. we're getting a better look at things as the light is coming out. we will get with erica on the fall that is the big story and whether there is for to let us go to george. >> we're still tracking hot spots of interstate 80. even though progress is being made on clearing the crash. the back of continue to grow from el cortel drive. >> will continue to have a dense fog advisory for highway 4 in the antioch pittsburgh area. chp has not yet lifted advisory. that would affect traffic in both directions. it may be why we see a slower than usual east bound right. a new hot spots that is the problem here on the nimitz freeway. 880
spending cuts from the administration. those things are on the table, not just through the debt ceiling and through sequester and continuing resolution, i would hope the president put things on the table that he put on there in the summer of 2011 and more recently things like to change like looking at raising gradually rates of eligibility and means testing. there's really important structural changes that need to happen to give the country fiscal stability. but the aadministration will have to stand up to its own party and produce bold ideas and frankly be willing to work with republicans to get the job done. >> one thing i want to show everybody is politico having this front page profile, the hell no caucus, backed up by the conservative group the club for growth. congressman from arkansas cotton saying, that he would have voted both speaker boehner plan b on millionaires in the final tax hike and vowed to vote against raising debt limit in two months, absent the massive cuts the president opposes. he voted against gun control, immigration reform. how can they govern with so many memb
the urban institute, a conversation on the fiscal cliff agreement and what's ahead for the debt ceiling, automatic spending cuts and the deficit. live coverage gets started at 12 eastern. >> i think that that collectivization of the minds of america's founding fathers is particularly dangerous because, as i say so often in the book, they were not a collective unit. and presenting them as such tends to dramatically oversimplify the politics of the founding generation. and then it comes to be used as a big battering ram to beat people over the heads with in ways that i think are both historically incoherent and rhetorically unsound. >> michael austin on what he calls the deep historical flaws by conservative commentators. he shares his views with george washington associate professor of law david fontana on booktv's "after words" sunday at 9 p.m. and midnight eastern on c-span2. >> now, homeland security and state department officials testify about potential abuse of refugee programs by terrorists. the testimony includes a case where two iraqi nationals were given refugee status in the u.
cuts, the debt ceiling, and a continuing resolution to fund the government. there are also two pieces of legislation that embarrassingly congress dropped the ball on last year are, relief for victims of hurricane sandy and renewal of the violence against women act. there is the farm bill that sets farm subsidies and food aid for the poor. there is postal reform, as the usps hemorrhaging $25 million a day and may need a bail-out, and the pie in the sky, the if only they could get their act together and actually do something wish list items, meaningful changes to the nation's gun laws and immigration reform, which the 11 million undocumented workers in this country are counting on. more than just a full plate, this is a jam packed enchilada of responsibility. joining us now from washington is the sade of capitol hill, boat shoe enthusiast and my celebrity dopplerleganger, nbc's luke russert. a man, i will say, who does not really take a vacation, luke. you have been in the trenches this whole holiday season, my friend. >> yeah, but thankfully the united states congress, the 113th got of
the debt ceiling, but if we don't raise it without a plan to get out of debt, while the should be fired. >> even to get rid of some of the special interest tax rates,. >> if you are a republican trying to get good media coverage, you're playing the wrong bit game that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of wh happened. they think will lives lost in the last debate what do you make of that? the republicans wee in a much weaker bargainingposition. what speaker boehner was doing anything that taxes went up midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income taxes and they didn't. in this case
that they will not approve an increase to the debt ceiling, basically our credit limit, without some spending cuts. but a group of democrats have now sent a letter to president obama arguing that he doesn't really need the republicans to say okay to raising the debt ceiling, he can do it himself and if the republicans don't like it, they can take him to court. brit hume is our fox news senior political analyst, brit, so the democrats want president obama to say, if the republicans say you're not getting your debt ceiling increase unless you give us spending cuts, they want president obama to turn around and say i'm not giving them to you and if you refuse to raise the debt ceiling i'm just going to do it, if you don't like it, sue me. is this likely? >> well, i don't think it's a likely outcome and i think if it ever came to that that the president would almost certainly lose some of his administration's lawyers have said as much. and basically what it comes down to, there's a passage in the 14th amendment to the constitution that says the validity of the nation's public debt shall not be question
coming on. we have the debate over the debt ceiling and what that is going to do. there is still a whole lot of trash out there to clean up before we have a clear view of the future. we can decide whether we like it or not. right now we don't like it. 45% of the owners said next, in six months the economy will be worse than it is today. ashley: so with that in mind, bill, i'm assuming small business so critical to employment in this country, they will not be hiring in the short term at least? >> right. they don't expect their sales to grow. so therefore they don't have a good reason to hire employees to take care of customers that they don't have. that is the real issue. they need to see the economy being better. they need to have a sense that we're on the right path. so they can invest money knowing they will get a payoff in the future. of course we already know that payoff will be taxed more highly. that is not real helpful. if you have profits growing, you don't mind paying taxes on them. tracy: one of the things i thought interesting was the quality of labor is a concern to a lot of
ceiling. we have yet to cut one dime from the last debt ceiling agreement and here it is time to do it again. we've got to stop the madness. . . living with moderate to severe rheumatoid arthritis means living with pain. it could also mean living with joint damage. help relieve the pain and stop the damage with humira, adalimumab. for many adults with moderate to severe ra, humira is clinically proven to help relieve pain and stop joi damage. so you can treat more than just the pain. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. blood, liver and nervous system problems, serious allergic reactions, and new or worseng heart failure have occurred. before starting humira, your doctor should test you for tb. ask your doctor if you live in or have been to a region where certain fungal infections are common. tell your doctor if youhave had, are prone to infections or have symptoms such as fever, fatigue, cough, or sores. you should not start humira if you hav
and some republicans won't raise the debt ceiling without getting their spending cuts. the coin may be a big fat joke but it's not about the coin when you think of this, it's reflectiveysfunctional it is on capitol hill, they're creating a magic coin to solve the u.s. debt crisis? come on. >> i'd like to have my own personal trillion-dollar coin to pay off all my debts no matter what anyone else says. >> print your face on it, right? >> no, i want your face on it. >> okay, deal. >> thank you, alison. >>> her life was cut short more than a year ago, now the uk has opened a second probe into the death of amy winehouse. we'll head to london for a life report. hi. i'm henry winkler. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a reverse mortgage works, how much you qualify for, the ways to receive your money, and more. plus, when you call now, you'll get this magnifier with l.e.d.
and defense budgeting with various debt ceiling deals, averted sequestration or not averted sequestration, this is a very timely time to have this conversation and we are joined by m fantastic panel of experts to help us cut through confusion and pull back and look at some of the bigger, strategic questions that are out there. i'm joined by three folks here. michael o'hanlon, you're already met, senior fellow and director of research and foreign policy here a brookings where he specializes in defense strategy. one of the most important prolific voices and defense issues, rich and literally hundreds of op-eds, columns, and articles, including one to point to you up on foreign policy but said right now looking at defense budgets . we are joined by richard -- richard betts, one of the top thicker -- thinkers and teachers, professor and director of war and peace studies at columbia university. numerous books have garnered critical success including it was an award from the american science association for the best book of political science. also a key facilitator of a summer security studies
that. sequester is terrible, terrible program cuts. but it's a lot less horrible than the debt ceiling. so any time you're thinking that you have to bargain over that, you are bargain around that and the president can stand firmer on that than he could, i think, on the debt ceiling crisis. so i think his strategy of saying i'm not going to negotiate with you on that is paying off. >> now, jared, it was interesting to me when newt gingrich who did close government in the '90s, newt gingrich predicted that the republicans were in on this. watch this. >> everybody's now talking here comes the debt ceiling. i think that's frankly a dead loser. because in the end you know it's going to happen. the whole financial system is going to say this will be a gigantic problem. you can't be responsible. and they'll cave. >> when you have newt gingrich saying they'll cave. and newt gingrich did this, i mean, you really have to question how the republicans even took this long to start equivocating on what they're going to do. >> i think everything that you've played so far and joan's comments are convi
, no rise in the debt ceiling without an equal number of spending cuts. democrats are saying we're not negotiating with you as all, because as whyte white house press secretary jay carney said look what happened when we tried that in 2011 it resulted in a credit rating downgrade. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. it would be irresponsible to flirt with default. we saw what happened in the summer of 2011 when congress did flirt with default. >> and i think we can conclude from the fiscal cliff debate, maria, is that congress and the white house won't reach an agreement before they absolutely have to, and don't rule out possibility that the white house could yet invoke constitutional authority to unilaterally raise that debt limit if congress is not willing to play ball with them. >> we'll be wag. thanks very much. how far can washington push this debt ceiling fight before damage is done to the economy? an economist with ftn financial joins us and steve liesman, our senior e
it is time to raise the debt ceiling again and we have yet to cut one dime from the last agreement. spending is the problem we have to address that problem. bill: now democrats have shown their hand a little bit where they are on this issue for the next round, the next debate. where are republicans when it comes to spending? >> well, we have laid out several plans. we have done a budget in the house that actually gets to balance. the senate hasn't even done a budget in three years. one of the things i think we should require, okay, senate, before we increase the borrowing authority of this country why don't you actually put together a plan? think about this. i have said this before. think 18-year-old maxes out credit card. first thing you do cut up the credit card and put them on a budget. what this president said no, give me a new credit card. we don't want to do a budget. harry reid has it done one in three years. do a budget and we'll give you a menu of spending reductions you can put in place. you choose, mr. president. some are ones that you suggested. some came from simpson-bowles comm
, which are across the board cuts, but he is not going to be politically blackmailed over the debt ceiling. with respect to the sequester, replacing it, we need to continue to follow the same pattern that we did with respect to the fiscal cliff. in other words, and last year. last year we had 1.5 trillion dollars in cuts. we'll have to do additional cuts, but it will have to be combined with additional revenue from eliminating a lot of these tax breaks and loopholes that benefit high income individuals. the same kind of tax breaks and loopholes, by the way, that mitt romney and paul ryan talked about during the last campaign. >> now, one of the changes that politico has been writing about today in a profile of congressman cotton, tom cotton, one of the freshmen, is that you've got congressman like tom kolton that is a harvard law graduate. when it comes to congress having been supported in the primary by the club for growth, cho gave $300,000 plus. so he has no loyalty to john boehner or to the party. he has loyalty to those who supported him. and those that want to take a posture on those
crisis, we've got a debt ceiling discussion, we've got senator mcconnell saying, listen, we got to find ways to cut entitlements. isn't this smack in the middle of that debate when you're charging $300,000? >> well, we charge $295,000 because of really three things. one, the burden of illness of the condition you described, $200,000 to $600,000 a year is the cost for each one of these patients. we charge $295 because of the value that gattax brings. reducing the reliance on nutrition, 15% of patients getting off of nutrition altogether and improvement in the quality of life. and third, there's a premium associated with treating only 3,000 to 5,000 patients in the u.s. >> so the insurance companies would actually favor using your drug than doing what they're currently doing for these people. >> that's exactly right actually. 100% of the payers said that they would reimburse gattex. 76% of the physicians said that they will prescribe gattex independent from the cost. and about 100% of the patients said they will try gattex. >> let's go over when people talk about cutting medicare, when pe
, what are the things to take away from that for the united states? also a debt ceiling alarm bell from the bipartisan policy center saying the treasury department's going to run out of room on the debt ceiling earlier than we thought. february 15th, they say. that's the "x" date when we can't pay all of our bills, when we literally only have that date $9 billion coming in, and we have $52 billion in bills. imagine that in your own household. if you had $9 billion coming in and $52 million going out. when you look at it, it's staggering. i think we have a chart on the left. that's how much daily catch flow analysis, that means how much on the left, $9 billion is coming in. look at all the bills on the right we have to play, interest on the debt, $30 billion, we only are bringing in $9 billion a day on february 15th, but we have $30 billion in debt payments. how about irs refunds because it is, of course, tax season. federal salaries and benefits, $3.5 million, military active pay, medicare/medicaid, defense, food/hud/welfare/unemployment, other spending. that's how unbalanced it is. tha
: the president says he will not negotiate with republicans at all about raising the nation's debt ceiling. the feds predict we will not be able to pay our bills about two months from now. but some republicans say they are willing to let the government partially shut down if new spending cuts are not part of the deal. all of this just a week after the fiscal cliff fiasco. shannon bream in washington tonight. here we go again. what are we getting in the way of an inside look at the fiscal cliff talks? >> well, shep, in a wide ranging interview with the "wall street journal" house speaker john boehner talked about what really happened a couple weeks ago. quote one week several weeks ago the president said to me we don't have a spending problem. he said he was stunned and continued to press the point and said the president then told him quote i'm getting tired of hearing you say that boehner also says he will no longer do closed door one-on-one talks with mr. obama calling them futile. response to the boehner claims and so far shep we have not gotten one. >> we got tax increases on some ameri
now envisions a fight playing out in a series won't that be fun? we can have a debt ceiling crisis every week now. >> that's leadership. >> stephanie: yes. unless obama agrees to trillions of sending cuts outright. if cracks are forming in the republicans offensive, democrats don't have to resort to unconventional means. we'll see what adam schiff thinks about this. because he knows a little something about something. >> he does. >> stephanie: bob in boston you are on the "stephanie miller show." hi, bob. >> caller: how are you doing? >> stephanie: good, go ahead. >> caller: any time people want to put guns in schools, why don't you just respond by saying fort hood. >> stephanie: yeah. >> caller: how come so many people died at fort hood at the hands of one shooter. >> stephanie: columbine also there was an armed guard. yeah, that's just a ridiculous idea. >> uh-huh. >> stephanie: that's just dumb. okay. twenty-nine minutes after the hour. charlie pierce next on the "stephanie miller show." ♪ i think the number one thing that viewers like about the young turks is th
of this sequester, automatic across the board cuts. the president set that up back in 2011 when the debt ceiling talks broke down. this was the way to kind of get the republicans to come to the table. and during all of those negotiations, the president, according to the speaker boehner, kept waiting for the speaker to bring up the sequester and he never did. so it wasn't until a day before they reached that final deal. i think it was like the day before new year's, that finally the president said to speaker boehner, wait a minute, what about the sequester? we can't live with this. so finally they delayed it for two months. but this is a big problem. it's one of the reasons i think now the tables shifts from the democrats having the upper hand in these past negotiations because all the taxes were automatically going to go up, now all the spending cuts are automatically going to happen. i think that's one reason the speaker is optimistic he might be able to get some tax reform out of the democrats and maybe also a bigger deal might be on the entitlements. the big programs like medicare and medicai
institute. senator, you know what the inner workings are going to look like for the debt ceiling. what are your colleagues saying at this point? we've got -- we've got the other side saying it's not going to be about spending cuts. we need another whatever $2 trillion. they want to go 50/50 again. they want another trillion dollars, and so they got the higher marginal rates. they're going to want to do the other thing now. tax reform by closing loopholes, but not revenue neutral tax reform. but to raise another trillion dollars. will republicans go along with that? >> well, first of all, from the republican standpoint i think our thoughts are that president obama got the revenue portion, the tax increase portion of his balanced approach. he got $600 billion, plus we also have to keep in mind we've got $1 trillion worth of tax increases on obama care. by the way, those are middle income tax increases. they're indirect, but they're going -- >> he's not going to agree with that. he's going to say i was at 1.6 trillion and then i made a concession to 1.2. >> it's pretty jaw dropping when h
with various debt ceiling deals, averted sequestration or not averted sequestration, this is a very timely period to be having this conversation. we are joined by a fantastic panel of experts to help us cut trees some of this confusion. and pull back and look at some of the bigger strategic questions out there. i'm joined by three folks. the senior fellow and director of the church -- director of research here at brookings institution. he is one the most prolific voices in this issue and has written hundreds of articles, including one on foreignpolicy.com right now. his most recent book includes opportunity, why nuclear arms is still important and the wounded giant, america's armed forces in an age of austerity. the larger and by one of the top thinkers and teachers in the field of security studies. he is a professor at columbia in university. his numerous books have garnered critical success from the american political science association for the best book in political science. he is also a key facilitator of a facility studies workshop. he has a great deal of experience in the policy fie
Search Results 0 to 34 of about 35 (some duplicates have been removed)

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